摘要
领投跟投模式是股权众筹常见的运作方式,简化了创业企业的股权结构,降低了跟投者投资经验不足的风险,促进股权众筹的实现。领投人是融资者与跟投人之间的信用中介,在股权众筹中的作用突出。但领投人也有可能与融资者和众筹平台之间相互勾结,侵害跟投人的股东权利,甚至引发欺诈风险。对此,建议从完善信息披露制度、强化领投人约束机制、完善众筹资金的安全管理制度、优化创业企业治理结构和加强众筹平台的监督职能等角度来完善领投跟投模式。
The leading and following investing mode is a common way to equity crowdfunding. This mode simplified the ownership structure of enterprises,and lowered the risks for following investors who lack investment experience,and promoted the realization of equity crowdfunding. Leading investor is the important credit intermediation between the financier and the following investor,and played a prominent role in equity crowdfunding. But the leading investor may collude with the financier and the platform,infringe on the rights of the shareholders,and even lead to the risk of fraud. In order to perfect the leading and following investing mode,this paper put forward some suggestions from the following aspects： improve the information disclosure system,strengthen the leading investor’s restriction mechanism,improve the safety management system of funds,optimize the governance structure of venture enterprises,and strengthen the supervision function of the platform.
出处
《金融教育研究》
2017年第4期22-26,共5页
Research of Finance and Education
基金
2015年福建省教育厅中青年教师教育科研项目"股权众筹融资的运行机制及风险管控"(JAS150745)
关键词
股权众筹
领投跟投模式
优化对策
equity crowdfunding
leading and following investing mode
optimize countermeasure
作者简介
王阿娜（1982-）,女,福建南安人,硕士,讲师,研究方向为创业投融资.
